Tesla is set to release a car for a price the masses might actually afford

Click to play video: 'Tesla’s first mass-market car poised for debut' Tesla’s first mass-market car poised for debut
Tesla's mass-market Model 3 sedan, its first attempt to reach a wide range of consumers, passed all regulatory requirements for production two weeks ahead of schedule, according to CEO Elon Musk. Lisa Bernhard reports – Jul 3, 2017

Tesla‘s CEO says the first Model 3 electric car for the masses should come off the assembly line Friday, with the first deliveries in late July.

Elon Musk says on Twitter that the new car passed all regulatory requirements for production to begin two weeks ahead of schedule.

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The company plans to hold a party to hand over the first 30 Model 3s to customers on July 28.

The Model 3 is to start around $35,000. With a $7,500 federal tax credit, it could cost $27,500. Tesla says the car can go 215 miles on a single charge and from zero to 60 in under six seconds. The car is Tesla’s first attempt at true mass production.

READ MORE: All Tesla cars will now have self-driving hardware

The company has had trouble hitting production deadlines on previous cars.

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